JSW Steel jumps 1% after 15% YoY growth in steel production

Shares of JSW Steel jumped1.0% on Tuesday morning, after the company announced its monthly business updates for May. The shares traded at ₹1,261 apiece on the NSE, erasing early morning gains.

The company announced 15% YoY jump in consolidated crude steel production at 22.9 lakh tonnes. Production was higher in May 2026, mainly due to full operations of the Dolvi unit (one of the blast furnaces was under planned maintenance shutdown in May 2025), and JVML operations fully ramped up.

Blast Furnace 3 (BF3) at Vijayanagar is under shutdown for upgradation of capacity, is expected to restart in the second fortnight of June 2026. The capacity utilisation for Indian operations for the month, excluding BF3 capacity, was at ~98% and including BF3 capacity was at 87%. The Ohio plant produced nearly 0.95 lakh tonnes of output, up from 0.79 lakh tonnes in the same month last year.

The exchange filing read, “Over the last three decades, JSW Steel has grown from a single manufacturing unit to become India's leading integrated steel company with a combined crude steel capacity of 37.9 MTPA, including 4.5 MTPA through the JSW JFE Steel JV. Its next phase of growth will take the combined capacity to 54.8 MTPA over the next four years”.

JSW Steel is the flagship business of the diversified, US$ 23 billion JSW Group. As one of India’s leading business houses, JSW Group also has interests in energy, infrastructure, cement, paints, realty, e-platforms, mobility, defence, sports, and venture capital.

In 2026, the shares of JSW Steel delivered 7.6% returns on a YTD basis and 25.1% returns on a yearly basis. During the March quarter results, the company delivered 14.1% revenue growth. The operating profit soared 38% YoY to ₹8,464 crore. The net profit swelled multifold owing to exceptional other income to ₹22,377 crore.